This is related to another FHA post today.
CoreLogic said fraudsters are migrating toward higher risk, high-volume loan programs particularly the Federal Housing Administration, and the government's Home Affordable Refinance Program. Short sales and REO sales continue to be a favorite among fraudsters as well.
But Tim Grace, senior vice president of Fraud Solutions at CoreLogic said while fraud is going up, the industry is getting better at curbing that threat.
"Fraud continues to shift to areas of the lending business where large volume increases occur over short periods of time, or where advanced risk mitigation processes are not squarely in place," Grace said.
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